Veefin Solutions Limited conducted its Q4 and FY26 earnings conference call on May 14, 2026, hosted by Valorem Advisors, with senior management presenting the company's financial performance and strategic direction. The call was held pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the Board of Directors meeting held on May 13, 2026. The transcript was subsequently filed with BSE Limited on May 15, 2026.

FY26 Financial Performance

Management highlighted strong growth across key financial metrics for the standalone listed entity. The following table summarises the standalone financial highlights for FY26:

Management also presented a "management view" of the proposed amalgamation perimeter — comprising Veefin Solutions, Estorifi, and GlobeTF — which reflects the integrated product platform. The combined financials for this perimeter are outlined below:

On a consolidated basis, the revenue bridge showed standalone revenue of ₹70.74 crores, plus ₹21 crores from Estorifi and GlobeTF, totalling ₹91.75 crores for the product platform perimeter, with a further ₹253 crores from other group service and controlled entities, bringing total consolidated revenue to ₹345 crores. Management noted that consolidated margins should be read in the context of ongoing product investment and the varying maturity stages of group entities.

Capital Expenditure

CFO Mrs. Payal Maisheri provided a breakdown of CAPEX for FY26, which is directed towards building reusable product IP:

Management indicated that CAPEX for the next year is expected to be lower, as the company is nearing the end of its product IP investment cycle.

Multi-Product Strategy and Pipeline

Chairperson & MD Mr. Raja Debnath emphasised that Veefin has transitioned from a single supply-chain finance (SCF) product company to a broader BFSI technology platform. The current product suite spans SCF, trade finance, cash management, corporate and retail internet banking, Loan Origination System (LOS), Loan Management System (LMS), collections, fraud and risk management, and Gen AI solutions — all built on a shared architecture called Veefin 4.0.

The qualified enterprise pipeline stands at approximately $80 million across 58 active qualified banking opportunities, with the following characteristics:

Management guided that at least 25% of the pipeline is expected to convert within the next six months.

PSB Xchange Update

PSB Xchange, the company's multi-lender supply chain finance marketplace, is transitioning from a platform build-out phase to an operating throughput phase. The platform operates under a seven-year exclusivity arrangement. Key platform metrics are as follows:

Management explained that once approved limits are sub-allocated to suppliers and dealers, disbursements will commence. The focus for the current year is on increasing live integrations and converting approved limits into transaction flows.

Structural Simplification and Group Outlook

The proposed amalgamation of Estorifi and GlobeTF into Veefin Solutions has completed the BSE and SEBI process and the matter has moved to the National Company Law Tribunal (NCLT). Post-amalgamation, promoter shareholding (including warrants) is expected to be 39.41%. Management also disclosed that White Rivers Media — described as India's largest independent digital content creation and distribution company — is expected to file its Draft Red Herring Prospectus (DRHP) around September, with a listing anticipated during the year. The company also noted a governance dispute with a small group entity, Epikindifi, which has been taken to arbitration; the entity contributed less than 2% to consolidated revenues and was loss-making. Going forward, the Veefin Group is expected to comprise two listed entities: Veefin Solutions Limited (product entity) and White Rivers Media (services entity). Management also noted that the company expects to become eligible for migration to the main board within a couple of months.

Source: None/Company/INE0Q0M01015/4425fd27-039d-47fc-a9a9-940966c334b9.pdf

Veefin Solutions Limited released its investor presentation for the quarter and financial year ended March 31, 2026, on May 14, 2026. The company reported strong financial performance across standalone and consolidated metrics, driven by revenue scale-up and platform expansion. The Board approved the audited financial results on May 13, 2026, and subsequently, the audited standalone and consolidated financial results were published on May 14, 2026, in Business Standard (All India Editions) and Vrutttamanas newspaper, circulating in Mumbai, in compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Standalone Financial Performance

On a standalone basis, the company reported significant growth in profitability for FY26. Revenue from operations increased 89.5% year-on-year to Rs 70.74 Cr. Reported EBITDA rose 122.9% to Rs 38.12 Cr, while Profit After Tax (PAT) grew 63.2% to Rs 18.20 Cr. The EBITDA margin for the year stood at 53.89%, an expansion of 807 basis points compared to the previous year.

For Q4 FY26, standalone revenue was Rs 24.17 Cr, and PAT stood at Rs 5.76 Cr. Paid-up equity share capital as of March 31, 2026, was Rs 25.44 Cr.

Consolidated Financial Performance

Consolidated results reflected the broader group perimeter, including subsidiaries and service entities. Total revenue from operations surged 339.1% to Rs 345.13 Cr in FY26 from Rs 78.60 Cr in FY25. Consolidated PAT increased 96.6% to Rs 31.96 Cr. The EBITDA for the year was Rs 75.16 Cr, up 207.3% year-on-year.

The revenue bridge from standalone to consolidated figures includes contributions from Estorifi and GlobeTF, which are proposed to be amalgamated with Veefin Solutions, as well as other group entities.

Corporate Developments

The company highlighted progress in its Scheme of Arrangement for the merger of subsidiaries Estorifi Solutions Limited and GlobeTF Solutions Limited with Veefin Solutions Limited. The appointed date for the amalgamation is April 1, 2026, subject to regulatory approvals. Additionally, the company expanded its product suite into a broader BFSI technology platform, covering Supply Chain Finance, Trade Finance, Cash Management, Internet Banking, LOS, LMS, Collections, and Fraud & Risk.

The qualified enterprise pipeline stands at USD 80 Mn, with 75% of the demand coming from non-SCF products. The PSB Xchange platform continues to gain momentum with 32 lender integrations tracked and 88 corporate deals active on the platform.